Canadian oil and gas exploration firm Pieridae Energy has negotiated extensions to the key deadlines of its long-term deal with German firm Uniper for the planned Golboro liquefied natural gas (LNG) export project in Nova Scotia, Canada.
This development follows Pieridae’s announcement last month that it would be postponing a final investment decision (FID) to build the Goldboro LNG export plant due to the effects of the coronavirus pandemic.
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The project site is located 7km away from the Meadow Lake, which will facilitate the water supply for the LNG terminal.
Pieridae has a 20-year agreement with Uniper for LNG produced at the first Goldboro liquefaction train.
The first train will have a capacity of approximately 4.8 million tonnes per annum (Mtpa).
Pieridae CEO Alfred Sorensen said: “We recently expressed confidence we would sign key deadline extensions with Uniper related to FID for our Goldboro LNG facility and Pieridae is pleased to announce those extensions today. Our relationship with Uniper remains strong and we very much appreciate their on-going support.
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By GlobalData“Pieridae has begun to contract for services outside the primary engineering, procurement and construction contract with the intent to begin the site preparation work as soon as possible. Some of these activities include building the wharf and jetty, road reconstruction, and constructing the work camp.
“Over the last several weeks we have seen projects in Australia, Africa and the Gulf Coast either cancelled or delayed indefinitely due to the challenging energy market. We believe this is an opportunity for Canada to enter into this industry at a time when others are exiting.”
In October last year, Pieridae acquired Shell Canada’s midstream and upstream assets in the Alberta Foothills area for C$190m (approximately $144m).
